Ex-Galleon Trader Gets Probation After Aiding Feds

Law360, New York (October 25, 2012, 8:23 PM EDT) -- A former Galleon Group LLC trader who participated in, then helped federal investigators crack, the hedge fund's insider trading ring was sentenced to three years probation Thursday, avoiding jail time because of his cooperation with the government.

Michael Cardillo, who prosecutors say provided information that led them to identify former Goldman Sachs Group Inc. director Rajat Gupta as a tipper for Galleon founder Raj Rajaratnam, will also pay about $66,700 in penalties. He was sentenced before U.S. District Judge Jed S. Rakoff in Manhattan.

Cardillo pled...
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